Subsidiary EBPL withdraws Rs 138 cr Assam plant CAPEX plan

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Price reactionminutes from the announcement price · days from the prior close

+0.7%Reaction day

₹493.40

prior close

₹485.00

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+0.2%+0.5% vs market

Other Construction Materials peers, median of 16sector-0.3%+1.0% vs sector

On the reaction day the stock moved 0.5 pts more than Nifty Microcap 250 and 1.0 pts more than its Other Construction Materials peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Next day

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UpDownMarket · Nifty Microcap 250Sector · Other Construction Materials peers, median of 16Pending

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AI summary

Everest Industries' wholly owned subsidiary EBPL has withdrawn its Rs 138 crore CAPEX plan to set up a new Fibre Cement Boards plant at Matia, Goalpara, Assam. EBPL had invested Rs 10.90 crore on land at the site via Assam Industrial Development Corporation. The board reassessed feasibility and decided to surrender the land. Company states the decision will not adversely impact financials.

Likely market impact

Minor neutral to slightly positive — Rs 10.9 cr sunk cost on land to be recovered via surrender, no financial hit expected.